Exit Planning: Where's the exit?

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Information about Exit Planning: Where's the exit?
Finance

Published on February 18, 2014

Author: JimEckstein

Source: slideshare.net

Description

Got an Exit Plan, you should always be prepared.

Where’s the Exit? Copyright 2012 Angel Advisors, LLC

Once upon a time… • Something bad happened – …there was an entrepreneur who owned/ran a business…then something really BAD happened and they lost everything • Something good happened – …there was an entrepreneur who owned/ran a business…then something truly amazing happened and now they have no more worries • Something Intentional Happened – …there was an entrepreneur who owned/ran a business, and in the end it all worked out just as he/she PLANNED Copyright 2012 Angel Advisors, LLC

Many Chapters in the Life of a Business • • • • • • • • Birth/Creation Infancy High Growth Hit the wall Maturity The Crisis Decline The End… • How do you want your last chapter to read? Copyright 2012 Angel Advisors, LLC

Q1: Why did you start your business? a. Needed a job b. Wanted to be a CEO, Founder, Entrepreneur, King of the World, etc. c. Wanted to make a bazzillion dollars d. Wanted to revolutionize an industry, create something previously uncreated…etc… e. Wanted to give away a bazzillion dollars to… f. All of the above g. None of the above Copyright 2012 Angel Advisors, LLC

Q2: How many years did you think it would take to accomplish goal? a. <3 years b. Between 3 and 5 years c. Between 5 and 10 years d. Between 10 and 20 years e. None of the above - Never thought about it f. None of the above – different answer…? Copyright 2012 Angel Advisors, LLC

Q3: Looking at your Total Net Worth, what percentage of your Assets does your ownership in the business(s) represent? a. Less than 10% b. Less than 25% c. Less than 50% d. More than 50% e. Don’t really know? f. What’s an Asset? Copyright 2012 Angel Advisors, LLC

Q4:Which of these best describes your business or the business you run? a. We are the low cost leader in our industry b. We have a unique product/service that either no one else in the industry provides or a very small number of providers exist for. c. We provide a unique product/service in a segment of an industry that others cannot provide. d. None of the above Copyright 2012 Angel Advisors, LLC

Q5: Which of the Following Best Describe Your Business a. Our business can be/provide/deliver the best ______________ in the world b. Due to our financial strength our business is economically sustainable in all economic conditions. c. Both myself and our senior management team are deeply passionate about the products and/or services our company provides. We really need no incentive to wake up every morning thinking ‘I cant wait to get to work…’. d. Some combination of A, B, and C e. All of the above f. None of the above Copyright 2012 Angel Advisors, LLC

Q6: My spouse/family/significant other.. a. Appreciate my passion and can’t imagine me ever leaving the business b. Appreciate my passion and apply no pressure to my ‘exit’ time frame c. Appreciate my passion, but believe I spend too much time in the business and therefore want me out of the business tomorrow d. I don’t know I’ve never asked them e. There is no one else on this planet that cares about my ‘exit’. Copyright 2012 Angel Advisors, LLC

Always be prepared as timing is everything… Value 5 10 15 Time Copyright 2012 Angel Advisors, LLC 20 25

Defining your personal objectives     What is your Purpose What is your Number What is your Time Frame Who else does this need to be communicated with (spouse, family, key employees…) Copyright 2012 Angel Advisors, LLC

Team • The team you need to get it done        Lawyers Investment Bankers Traditional Bankers Personal Financial Planner Current Executive Team Additional Executive Management etc • How would you assess the team you have today? (assuming you have one) Copyright 2012 Angel Advisors, LLC

What have you heard... • Purpose – Faith without Works / Works without Faith • Team – Make up – Experience they bring – Level at which they play • Regardless of timing you should always be prepared – Informs other decisions Copyright 2012 Angel Advisors, LLC

The Angel Advisors jim@theangeladvisors.com Copyright 2012 Angel Advisors, LLC

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